Jersey has published the COVID-19 (Social Security – Reduction of Contribution Rates) (Jersey) Regulations 2020, which were made on 9 September 2020. The regulations provide for the temporary reduction in employee and self-employed social security contributions announced in July in response to the COVID-19 pandemic, which includes:
- For employees – a 4% employee contribution rate (instead of 6%) on earnings up to GBP (JEP) 4,558 per month.
- For the self-employed – a 10.5% contribution rate (…